The management of the Ghana Cocoa Board (COCOBOD) has announced salary reductions for its Executive Management and Senior Staff as part of urgent measures to address liquidity challenges facing the cocoa sector.
In a press release issued on Monday, February 16, 2026 by its Chief Executive Officer Dr. Randy Abbey , COCOBOD disclosed that members of its Executive Management have accepted a 20 percent cut in their salaries, while Senior Staff have agreed to a 10 percent reduction. The salary adjustments take immediate effect and will remain in force for the rest of the 2025/2026 cocoa crop year.
According to the Board, the decision is aimed at reducing operational expenditure and realigning costs with current revenue levels, as the cocoa industry comes under increasing financial pressure.
COCOBOD further noted that the pay cuts are part of a wider cost-containment strategy, which also includes stricter procurement controls and a staff rationalisation exercise. These measures, the Board said, are intended to stabilise its finances and safeguard the sustainability of its operations amid prevailing sector challenges.
Read full statement below:
